Press Release
CoreStreet Ltd. and Novomodo Inc. Merge to Provide Innovative Solutions for Identity and Privilege Management
BOSTON, Massachusetts (August 28, 2002)
On August 28, 2002 CoreStreet Ltd. and Novomodo Inc. announced the formal merger of the two companies to create a comprehensive set of solutions based on the CoreStreet's Real Time Credential™ platform. Under the CoreStreet Ltd. name, the company will offer the industry's most complete set of identity and privilege management products and services for both government and commercial enterprises.
CoreStreet, Ltd., is a collaboration of experienced marketers, developers and scientists brought together to commercialize an advanced security technology developed by Silvio Micali, a prizewinning professor of computer science at the Massachusetts Institute of Technology. Peter Hussey, formerly the CEO of Novomodo, will be CoreStreet's Chief Executive. Phil Libin, the head of CoreStreet before the merger, will serve as President and head of development.
CoreStreet's Real Time Credential™ platform represents a true breakthrough in security technology, which can deliver a fast, accurate, and much less expensive way to guard against theft, intrusion, or other unauthorized use of facilities or electronic systems, while at the same time enabling new business applications. Unique among other security technologies, CoreStreet's products can protect partially or completely disconnected resources and securely handle frequent privilege revocations for a billion or more active users.
Inexpensive and easy to install, CoreStreet's Real Time Credential™ platform can silently confirm the identity of remote users and their privileges, ensuring that these users have the right to gain access to a computer system, a PDA, a database, or a restricted building or area such as an airport facility. A dozen patents protect CoreStreet's technology.
Government and commercial enterprises seeking to strengthen their capabilities to guard against both cyber and physical security threats have recognized that real time validation, and comprehensive management of digital credentials is critical. CoreStreet's family of products is well positioned to address this rapidly growing market.
Current users of CoreStreet's technology include leading government agencies and commercial business.
CoreStreet, Novomodo and Real Time Credentials are trademarks of CoreStreet Ltd.
